Apple just passed Exxon in Market Cap to become the world’s most valuable company. Quite a turnaround for a company that was on its last legs just over a decade ago. AAPL passed the 400 mark last month on the back of monster earnings news but fell sharply as the US market plummeted over the last week. Luckily for Apple, it didn’t fall nearly as sharply as Exxon, in the face of lowered oil costs.

The markets are still open and volatile today but at this moment, 1:19PM EDT, Apple’s market cap is at $341.53B while Exxon Mobile’s is at $341.51B.

Congratulations Apple!

Update 2:00EDT: Apple is now on top by over $1B (image below)

Update2 4PM ET. AAPL closed at $346.74B, Exxon rallied at the end of the day to $348.32B